SETTING UP OF A LEGAL ENTITY
Although it apparently may seem otherwise, setting up a legal entity entails significant benefits, also for small companies:
- the market sees the fact that the foreign company is close to its UAE customers and is making investments to that effect
- legal, administrative and logistics operations are considerably simplified
- in case of disputes with customers and suppliers, the UAE justice system is fast and efficient. Also in the case of disputes of some significance (eg: damage caused by defective products) the first entity to be affected is the UAE corporation and only later eventually the Italian one
- There may be significant tax advantages
- Establishment of a legal entity (usually a limited liability company or a branch) whose presidents and managers are chosen by the management of the client company; although it is not subject to the payment of a minimum share capital, a guarantee deposit is almost always required, depending on the type of legal entity and where you want to open it); the time of constitution, once the necessary documentation is ready, are quite rapid (a few weeks); the set up costs are relatively low (a few thousand dollars) in addition to some annual recurring costs due for licenses
- Opening of bank accounts
- Selection, training and supervision / management of personnel for the EMIRATES branch.
- Research and selection of showrooms and / or warehouses and identification of adequate logistic services.
- Assistance in obtaining certifications and compliance with local regulations
- Management of orders, customers
- Post-sales assistance